New Yorker Apartment Homes

3715 North Meridian Street, Indianapolis, Indiana 46208

  • Property Subtypes Other
  • Building Size (RSF) 23,200 SF
  • Gross Building Area 23,200 SF
  • Building Name New Yorker Apartment Homes
  • Building Status Existing
  • Sale Price $1,120,000.00 Total
  • Unit Price $48.28 per SF
  • Class of Space N/A
  • Total Land Size 0.87 Acres
  • Sale Terms Cash to Seller
  • Cap Rate Undisclosed
  • Last Updated 7/30/2019
  • Days on Market 611 Days
  • Status active

Overview / Comments

28 UNITS // MULTIFAMILY // VALUE ADD OPPORTUNITY The New Yorker Apartment Homes is a 28 unit community located on the north side of Indianapolis at 3707 & 3715 North Meridian Street and 22 East 37th Street Indianapolis, Indiana 46208. The property includes two Three Story apartment buildings with full basements plus one Two Story duplex. The gross square footage is approximately 23,200 including 4 Studio (402 SF), 16 One Bedroom One Bath (560 SF), 6 Two Bedroom 2 Bath (1,525 SF). There are 2 units in the Two-Story Duplex Home at 22 East 37th Street with two bedrooms per unit. The property is located on a .97± acre site and is constructed of two and three-story wood frame with brick veneer exterior. The apartment buildings have wood deck roofs and the duplex has a pitched asphalt shingle roof. All units have tenant paid HVAC equipment. The property offers substantial upside for a buyer who updates the renovation and leases up the vacant units with professional property management. Property amenities include laundry facilities in many of the units and in basement hallways. Parking is secured by a gate that is operated by access codes provided to the tenants. The New Yorker Apartments were built in 1918 and the apartments were fully renovated in 1990.

Additional Details

  • Tax ID/APN 49-06-24-139-026.000-101
  • Property Visibility N/A
  • Total Number of Buildings 2
  • Number of Stories 3
  • Year Renovated 1990
  • Site Number 28
  • Total No Of Units 28